ITAT Agra Restores Re-Assessment on ₹1.19 Crore Cash Deposits to AO for Fresh Hearing

Mahesh Kumar Sharma Vs ITO (ITAT Agra) The Income Tax Appellate Tribunal (ITAT), Agra Bench, in the case of Mahesh Kumar Sharma Vs ITO, allowed the assessee, a non-filer, a crucial second chance to explain a significant cash deposit discovered in his bank account. The Tribunal set aside both the ex-parte order passed by the Commissioner of Income-tax (Appeals) [CIT(A)] and the original assessment order, remanding the matter back to the Assessing Officer (AO) for de novo consideration. Assessment Background and Default The matter pertained to the assessment year 2019-20. The assessee, Mahesh Ku...